Lenox Lounge, a jazz landmark, to close in New York City

NEW YORK (AP) -- The Lenox Lounge, a cabaret in New York City's Harlem neighborhood with a supercool, Art Deco style that made it a favorite of jazz greats like Billie Holiday, Miles Davis and John Coltrane, is closing its doors on New Year's Eve.

Longtime owner Alvin Reed says that with rents rising, he can no longer afford the lease on the jazz landmark. It opened in 1942.

He says the landlord wanted $20,000 per month.

The space is set to be taken over in the new year by Richard Notar, a managing partner at Nobu Restaurants.

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Notar tells The New York Times (http://nyti.ms/UMwETJ ) he hopes to keep the bar as "an old watering hole" with live music, but he hasn't worked out a deal with Reed yet to use the Lenox Lounge name.